New Zealand Legislation: Regulations
Regulations are laws made under Acts
(1) Where the proposed resolution at a meeting of assembled owners relates to the leasing of the land or any part of it, the quorum shall vary according to the term of the proposed lease in accordance with the following table:
| Term of proposed lease | Required quorum (consisting of persons present throughout the meeting, whether personally or by their trustees, proxies, or duly appointed attorneys, who together own, or represent the owners of, at least the specified percentage of the beneficial freehold interest in the land) |
|---|---|
| More than 42 years | 75% |
| More than 21 but not more than 42 years | 50% |
| More than 15 but not more than 21 years | 40% |
| More than 7 but not more than 15 years | 30% |
| Not more than 7 years | 20% |
(2) Where a meeting of assembled owners has been summoned to consider a resolution to lease the land or any part of it, and a quorum as required by this regulation is not present but the persons present would constitute a quorum to consider a lease for a lesser term than is contemplated in the proposed resolution, the meeting may, with the consent of the proposed alienee, pass a resolution to lease for any such lesser term accordingly.
Compare: 1953 No 94 s 309(6C), (6F); 1974 No 73 s 36(1)
